Thu, 02 Feb 2012 | ADMINISTRATION
Road haulage and transport business Sensible Transport Limited has been placed into administration after cash flow issues led to debts of about £1 million, with an unpaid bill to HMRC.
Daniel and Simon Plant from the insolvency practitioners SFP were hired on 26th January 2012 as the administrator to Sensible Transport Limited, which is based in Templecombe, Somerset.
Four out of five instructions received by SFP last year related to failed businesses, having been crippled by large unpaid bills to HMRC. Simon Plant commented to creditman.co.uk, “Ensuring that the business has made provisions for the tax bill is the only way to avoid pitfalls like this.”
"Sensible Transport has run into cash flow difficulties and we are currently in discussions with interested parties for a sale of the business as a going concern,” he added.
Founded in 1992, the business has a 67-strong workforce and yearly sales of £8 million. The troubled firm specialises in vehicle distribution and logistics, and is based at Henstridge Airfield between Yeovil and Shaftsbury. It has long-term contracts with large motor manufacturers, fleet operators and dealer groups.
Sensible Transport was purchased for an undisclosed sum by Bristol-based distribution and technical services provider Quantum Automotive Limited in February 2011.
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